Mapping the Risks and Risk Management Practices in Islamic Banking (Wiley Finance) - Hardcover

Eid, Wael Kamal; Asutay, Mehmet

Hardcover

ISBN 10: 1119077818 ISBN 13: 9781119077817

Publisher: Wiley, 2019

Synopsis

Deep, insightful analysis of controversial risk management issues in Islamic banking

Mapping the Risks And Risk Management Practices In Islamic Banking is a comprehensive analysis of the current state of risk management practices within the Islamic banking industry, with recommendations for policy makers, bankers, and industry stakeholders. Going beyond the academic, this book presents the opinions and perceptions of industry financiers and bankers, alongside primary information and data collected by Islamic finance professionals to deconstruct and analyze the sector's current risk management practices. You'll get up to date on the latest attitudes and trends, and delve into the current issues surrounding risk management in Islamic banks. With a focus on practical applications, this authoritative guide discusses the unique risks facing Islamic banks, from the perspective of a wide range of practitioners.

Risk management is one of the biggest, most controversial issues in Islamic finance, yet it remains under-researched. Many uncertainties exist for which the answers are still unclear, yet will play a large role in shaping the industry's future. This book digs deep into current ideas and practices to discover what's being done, what needs to be done, and what needs to stop happening to keep the future of Islamic finance strong.

• Explore both Islamic and traditional attitudes toward risk
• Examine current Islamic risk management practices
• Understand the latest industry issues and trends
• Consider the diverse range of risks unique to the Islamic banking sector

Effective risk management in Islamic banking deserves priority attention. Unless the industry develops its own genuine risk management architecture, it cannot achieve its full potential and the viability needed for a more resilient financial system than the debunked Wall Street model. Mapping the Risks and Risk Management Practices in Islamic Banking provides a deep, authoritative analysis of where the industry is today and where it needs to develop.

About this title

About the Author

DR. WAEL KAMAL EID is the Chief Risk Officer at SEDCO Holding, the Chairman of the Board Audit and Risk Committee of Al Nahdi Medical Company and a Member of Auto World Audit Committee. He is a risk specialist in Islamic banking who holds an MBA with Distinction from Warwick Business School, and a PhD in risk management from Durham University. He has extensive experience in Risk Management and Islamic banking in the Middle East and Europe. He is also a guest lecturer on Risk Management and Islamic Finance at distinguished universities and speaks regularly at international Risk Management events and conferences. Dr. Eid is the winner of the 2015 Golden Peacock Award for Risk Management by the prestigious Institute of Directors (IoD).

DR. MEHMET ASUTAY is a Professor of Middle Eastern and Islamic Political Economy and Finance at the Durham University Business School; the Director of the Durham Centre in Islamic Economics and Finance; the Programme Director for MSc in Islamic Finance and MSc in Islamic Finance and Management programmes, and is also the Director of the Durham Islamic Finance Summer School. His teaching, research, publication, and supervision of research all falls within Islamic moral economy/Islamic economics, Islamic political economy, Islamic finance and banking, Islamic governance and management, and the Middle Eastern political economies. His articles on his research interest have been published in various international academic journals and professional magazines. Dr. Asutay has also published and edited books on aspects of Islamic moral economy and Islamic finance.

From the Back Cover

Praise for Mapping the Risks and Risk Management Practices in Islamic Banking

"Mapping the Risks and Risk Management Practices in Islamic Banking offers a much-needed contribution to the literature on Islamic banking. The authors explore the basic tenets of Islamic finance and provide an overview of risks that are unique to Islamic banks. The book uniquely combines theory with practice; it contains the thoughts of Islamic banking professionals and explores the most recent developments and trends in the industry. This comprehensive and authoritative guide reviews the major findings, recommendations, limitations of Islamic banking and contains suggestions for future research."
Adnan Ahmed Yusuf, President & Chief Executive, Al Baraka Banking Group

"The book serves as an essential guide to risk management in Islamic banking and is a 'must read' for researchers working in this area, including university faculty and postgraduate students of Islamic finance. Although primarily an academic study, the book should prove worthwhile reading for financial regulators and professional bankers working in the Islamic finance industry. The findings from the surveys are clearly explained and there is a useful chapter which provides an interpretative discussion. Overall the work is an insightful and useful piece of research."
Prof. Rodney Wilson, Emeritus Professor, Durham University

"Mapping the Risks and Risk Management Practices in Islamic Banking is an excellent addition to literature. The authors have vast knowledge of the topic and have done extensive research in Risk Management in Islamic banking, which continues to be an under-researched area of study. This book not only provides an up-to-date overview of current market issues, trends and practices in risk management for Islamic banks, but also covers much ground by presenting discussions on a wide range of risks currently faced by Islamic banks. A highly recommended text to both practitioners and academics."
Dr. Adnan Soufi, Commissioner, Capital Market Authority, KSA; former Dean of Faculty of Economics and Administration, King Abdulaziz University

"Well researched and clearly laid out, this book provides timely insight in the unique risks faced by Islamic financial institutions and how they can be managed. Recommended reading for anyone in risk management, or who may want to get a better understanding of the subject."
Natalie Schoon, Principal Consultant, Formabb; Author of Modern Islamic Banking: Products and Processes in Practice

From the Inside Flap

An insightful analysis of controversial risk management issues in Islamic banking

Islamic finance is the fastest growing sector in the financial industry. Solidly based in research, Mapping the Risks and Risk Management Practices in Islamic Banking offers a comprehensive and much-needed guide that explores the perceptions and attitudes of Islamic banking professionals towards contemporary risk management issues within Islamic banking. In addition to the expert opinions and information, this practical book contains recommendations for policymakers, bankers, and industry stakeholders.

Written by two experts on the topic (a well-known working professional and an acclaimed academic), the book effectively combines theory with practice and is filled with useful data and insight from industry financiers and bankers that help analyse the sector's current risk management practices. The authors review the recent trends and attitudes and explore the current issues that pertain to risk management in Islamic banks. The book also highlights the unique risks facing Islamic banks, from the perspective of a wide range of practitioners.

In recent years, the focus on Islamic banking has shifted away from interest-free banking to developing an Islamic financial industry that does not suffer from the weaknesses of the conventional banking system. This new focus highlights risk management and mitigation, financial engineering, innovation, and providing common standards in Islamic finance. The book digs deep into current ideas and practices to discover what's being done, what needs to be done, and what needs to stop happening to keep the future of Islamic finance strong.

The authors examine Islamic banking in light of the recent financial crisis, review the current Islamic risk management practices, and consider the range of risks that are unique to the Islamic banking sector. Mapping the Risks and Risk Management Practices in Islamic Banking provides a thoughtful, authoritative analysis of where the industry is today and where it needs to develop to meet the needs of the future.

Edition details

• Publisher: Wiley
• Publication date: 2019
• Language: English
• ISBN 10: 1119077818
• ISBN 13: 9781119077817
• Binding: Hardcover
• Edition number: 1
• Number of pages: 500